Petrom’s Q1 profit jumps 60%

OMV Petrom (BSE:SNP), Romania’s largest company by revenues, said its first-quarter net profit rose 60% to 807.4 million lei (€196.1 million).Q110 results supported by favorable oil price environment and optimized cost management: as the Urals crude price rose by 72% over the same period of last year.Economic downturn reflected in the company’s operational results, as hydrocarbon production was 4% lower than year-ago period and total marketing sales volumes decreased by 22%, while ...

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